My Biggest Trading Day in 2023
Dear Traders,
Today in the chatroom, we witnessed something truly remarkable! The market started with heavy selling at the opening, and around 9:45 am, both the bond market (such as $TLT) and stock market indexes like $SPY and $QQQ saw a sudden bounce with significant volume. Interest rates dropped significantly, and it felt like something had fundamentally shifted. I was not in any trades at the moment, but when I saw the bounce in $TSLA and $TQQQ, I made some incredible trades, as did many others in the chatroom.
Later, we discovered that billionaire Bill Ackman tweeted right at 9:45 a.m. that he had closed his short positions on bonds.
He mentioned two key reasons for this decision: (1) There is too much global risk to maintain short positions on bonds at the current long-term rates, and (2) the economy is slowing down more rapidly than recent data suggests.
It’s astonishing how a single tweet caused such a dramatic drop in interest rates, from over 5%, the highest since 2007. This illustrates the incredible power of social media and influential individuals managing billions of assets.
For us traders, this surge in volatility provided an excellent opportunity, and many of us capitalized on $TQQQ and $TSLA, making it one of the best trading days of 2023 for me.
If you’re curious about how I make my trades and want to learn more about my strategies, you can watch my recap here. This video will give you insights into my trading thought process. Whether you’re new to trading or an experienced trader, it’s a great way to learn and improve your trading skills!
This week, we have several important webinars lined up. On Monday, we have an Onboarding Session for all new members with Megan and Mike. On Tuesday, Aiman, one of our most senior traders at Peak Capital Trading, will present a session on trading based on multiple timeframes and successfully reading price action in higher timeframes for day trading.
I’m particularly excited about Aiman’s presentation, given his wealth of experience. If you’re considering joining our community, now is the perfect time with our 50% Halloween discount!
To your success,
Andrew
